01
The Briefing
Three minutes before the open, every watchlist name and owned position gets checked against your thesis.
INVESTBOARDThe quiet terminal · for value investors
For investorswho'd rather wait.
Write your thesis. Set your rules for selling.
One quiet daily briefing checks both, and stays silent until something breaks.
The market is there to serve you, never to instruct you.
Scroll
A quiet manifesto
Every other terminal wants you to trade. Ours wants you to wait.
investboard holds every thesis you wrote when you were calm (the claim, the moat, the kill criteria) and tests each day's facts against it. Prices refresh once, after the close; the briefing is waiting before the open. If nothing crossed a line you drew yourself, it says so in one sentence, and returns you to your morning.
That is what the conviction is for. The market is there to serve you, not to instruct you: when a price falls on an intact thesis, you can buy more instead of flinching; when it runs past your value, or the story changes, you can sell without ceremony. And the waiting is never idle. You keep reading, keep digging into the business, keep testing the thesis against new facts. The research earns the calm; the calm earns the returns.
Read the five principles →See how the machines reason →16:00
One refresh, at the close. Never during hours.
3 min
The whole briefing, most evenings.
0
Streaming tickers, alerts, or infinite feeds.
I · The market speaks
Between open and close, the market prints roughly ten thousand prices, headlines and opinions.
II · None of it is yours
Red, green. Up, down. Almost none of it concerns the businesses you actually own.
III · The filter
We sieve the whole day through the only test that matters: the thesis you wrote when you were calm.
IV · What remains
By the close, most days, what remains is this.
間: ma. The pause between notes is what makes the music.
The instrument
Five surfaces. One discipline.
Keep scrolling. The room moves sideways.
02
The Portfolio
Watchlists for every stage (research, watch, owned) with concentration, cash, thesis health and insider activity weighed.
03
The Company
The whole research room: agents that read the filings and reason through what they find, decades of numbers drawn, your journal and thesis kept beside the price. Decision tools turn valuation, risk and conviction into a position size.
04
Discover
New ideas from Ackman, Pabrai, Buffett and more, tracked with their real returns, and agent reasoning on growth and margins.
05
The Co-Pilot
A running conversation with the agents that already read the filings. Ask about the company on screen, or the whole portfolio, and get a reasoned answer with a decade of numbers behind it.
Valuation
Valuation you canargue with.
No price targets on faith. Five independent frames: a reverse DCF, a forward DCF, historic multiples, a one year read, and a sum of the parts built from units, prices and margins. The frames are allowed to disagree, and the disagreement is shown, not smoothed away.
Every assumption is visible and editable. Change the units, the margin or the discount rate and the valuation recomputes as you type, your view beside the model's. Then export the table as an image and let others argue with your numbers.
After the close
At 4:01 p.m.,the noise stops.
Overnight, one page is written. Three minutes before the open, and nothing tugs at your attention until tomorrow. Peace of mind, by construction.
The daily briefing
Most days, the right thingto do is nothing.
Every position is held against the thesis you wrote at entry: kill criteria specific enough that a stranger could agree they've tripped. A tripped criterion, a watchlist crossing, a margin-of-safety band entered: each gets one sentence. Everything else gets silence, so you never fill the quiet with action.
And on the rare day the market panics over a business you understand, the briefing says that plainly too. This is the moment your conviction was built for.
- Tonight, one thing mattersA single material event, or none at all.
- Thesis healthEvery position: intact, watch, or tripped.
- CrossingsPatient setups that finally arrived.
- The waitDays since your last trade, worn proudly.
- The recordEvery thesis dated and kept, so your thinking compounds too.
Before the open · FridayBriefing № 342
Today, one thing matters.
CRWD: trading 13% above fair value, margin of safety gone. Insider net selling $12M this quarter. Your trim policy applies. Eleven other theses are intact.
BRK.Bcash optionality intactIntact
TSLA17% above fair value, insider sellingWatch
CRWDmargin of safety gone, second weekTripped
NU14% below fair value · margin of safety liveBuy zone
The wait: 41 days since your last trade. That is the strategy working.
“It is waiting that helps you as an investor, and a lot of people just can’t stand to wait.”Charlie Munger
The library
Read the methodbefore you pay for it.
Twenty-five essays, the vocabulary, and the long form behind every number the service shows. All of it open. No email, no gate.
Essays
Reference
Pricing
Bloomberg costs a salary.This costs a coffee.
We do less than the terminal, deliberately. One considered look per day, and no machinery designed to make you trade. The restraint is the product.
Bloomberg TerminalFor institutions · built for speed$24,000 / year
investboardFor the private value investor · built for patience$5 / month
$5 a month, or $50 a year.
Thirty days free. No card. Cancel from the briefing.